The simple answer DB is "raise at a higher price". Not just the...

The simple answer DB is "raise at a higher price". Not just the latest CR but previous ones too. The effect of consecutive raisings at substantial discount is cumulative. It builds up an expectation among potential investors that the next CR is also going to be cheap. It is hard to break the cycle once begun but surely the key is for management to convey their assessment of the value of the company to investors and SELL it (not just be grateful that some rich b@stards are willing to stump up with $60m at a bargain price). If you recall, the SP had worked its way up to 12 shortly before the last CR and that seemed to be under normal momentum from retail buyers. The price trend was up so why was there a 30% discount. Maybe my assessment of the value of the resource is wrong and , in fact, the fair value of the shares is 8 - 9 cents. If that is what Cath really believes and is the reason for the issue price then I would appreciate her coming out and telling us that (with reasons) so we can abandon our dreams, unload these shares and not have to spend so much time on HC.

Yours in despair,

Fisho